In a sponsored statement released on social media via Facebook this week, the Bermuda Foundation (BCF) Board of Directors announced approved grants of $290,000 to 44 registered charities.
The post said the donations are from the organisation’s Bermuda Community Fund, a permanent fund set up to support the nonprofit sector in perpetuity.
“This fund represents the primary purpose of the Bermuda Foundation,” says Dr Myra Virgil, Managing Director.
“It is an unrestricted endowment fund with the singular goal of supporting current community needs. That means that as circumstances change in Bermuda over the years, this fund can always be appropriately directed to areas of greatest need. As an example, for the past two years, the Foundation’s entire grantmaking budget has been directed towards pandemic-response funding, nonprofit stabilisation funds and the purchasing antigen tests for nonprofit groups working across the sector.”
According to the statement: “Contributions to the fund are from donors focused on long-term philanthropy for the community and the nonprofit Third Sector organisations that provide support for essential services.
“This year the Foundation returned to its annual grant-making, which includes a competitive process as well as outreach to ensure smaller community groups gain access to funding.
:Since its establishment in 2014, the fund has granted over $1.48 million to over 400 programmes.”
Amanda Outerbridge, BCF Chair, notes that the Board was especially pleased to once again fund the Beacon Awards Scheme. The Beacon Fund enables not-for-profit agencies (nonprofit and public) to become certified or accredited.
She says: “We encourage organisations to make the most of this opportunity. Funders have found that grant applications from organisations with certification or accreditation by the Bermuda National Standards Committee tend to be of a higher quality because they have met the extensive governance, compliance and service requirements. It is a robust process, a provides value by ensuring that standards are attained and maintained in the Third Sector, and that grant-makers have access to a trusted indicator of the credibility and sustainability of these organisations.”
Grants were made to a range of nonprofit programmes for youth and leadership development, housing and food programmes, environmental education, sport, remedial learning, specialised services, human rights education and early childhood development. Recipients of grants will be asked to reflect on their work by participating in the BCF’s year-end impact assessment process to determine key results of the supported programmes from a menu of universal standard outcomes.
Announcing the grants, Dr Virgil notes: “In addition to our own funds, Bermuda nonprofits are supported by a range of unrelated donors, families, individuals and companies who have opened legacy funds at the Foundation with the aim of ensuring the sustainability and success of nonprofits in Bermuda. These donors use the resources and expertise of BCF to support their grantmaking. Their contributions have resulted in an extraordinary set of grants totalling more than $3.5m as a result.” A detailed report on all grants processed through BCF is presented in the Foundation’s annual reports.”
Families or individuals interested in setting up their own Giving Funds to improve Bermuda can learn more about donor-advised philanthropy at www.bcf.bm. A complete list of the Foundation’s 2022 grant recipients is posted under “Our Work – Grantmaking History”.